U.S. Securities Exchange Act of 1934
E3773
The U.S. Securities Exchange Act of 1934 is a landmark federal law that created the Securities and Exchange Commission (SEC) and established comprehensive regulation of secondary trading of securities in the United States to restore investor confidence and prevent market abuses.
Aliases (6)
Statements (63)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
financial regulation law → securities law → |
| amendedBy |
Dodd–Frank Wall Street Reform and Consumer Protection Act
→
Sarbanes–Oxley Act of 2002 → |
| authorizes |
SEC to bring civil enforcement actions
→
SEC to conduct investigations → SEC to promulgate rules and regulations → |
| category |
U.S. securities regulation
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|
| citation |
15 U.S.C. § 78a et seq.
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|
| containsSection |
Section 10(b)
→
Section 12 → Section 13 → Section 14 → Section 15 → Section 16 → Section 21 → |
| country |
United States
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|
| createdAgency |
U.S. Securities and Exchange Commission
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|
| dateEnacted |
June 6, 1934
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|
| empowers |
U.S. Securities and Exchange Commission to enforce federal securities laws
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|
| enactedBy |
United States Congress
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|
| establishes |
anti-fraud provisions
→
disclosure obligations for issuers with publicly traded securities → insider trading prohibitions → periodic reporting requirements for public companies → proxy solicitation rules → registration requirements for broker-dealers → registration requirements for national securities exchanges → tender offer regulations → |
| focus |
regulation of secondary markets rather than primary offerings
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|
| governs |
corporate governance aspects related to shareholder voting and proxies
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|
| historicalContext |
New Deal legislation
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|
| impact |
foundation of modern U.S. securities market regulation
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|
| jurisdiction |
federal government of the United States
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|
| keyProvision |
Rule 10b-5
→
Section 13(d) → Section 14(a) → Section 16(b) → |
| language |
English
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|
| prohibits |
manipulative and deceptive devices in connection with the purchase or sale of securities
→
trading on the basis of material nonpublic information → |
| publicLawNumber |
Public Law 73-291
→
|
| purpose |
prevent market manipulation and abuses
→
regulate secondary trading of securities → restore investor confidence after the 1929 stock market crash → |
| regulates |
broker-dealers
→
clearing agencies → national securities exchanges → over-the-counter securities markets → secondary trading of bonds → secondary trading of other securities → secondary trading of stocks → securities associations → transfer agents → |
| relatedTo |
U.S. Securities Act of 1933
→
|
| requires |
public companies to file annual reports on Form 10-K
→
public companies to file current reports on Form 8-K → public companies to file quarterly reports on Form 10-Q → |
| shortName |
Exchange Act
→
’34 Act → |
| signedBy |
Franklin D. Roosevelt
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|
| yearEnacted |
1934
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|
Referenced by (33)
| Subject (surface form when different) | Predicate |
|---|---|
|
Investment Advisers Act of 1940
("Securities Exchange Act of 1934")
→
Investment Company Act of 1940 ("Securities Exchange Act of 1934") → Public Utility Holding Company Act of 1935 ("Securities Exchange Act of 1934") → U.S. Securities Act of 1933 ("Securities Exchange Act of 1934") → |
relatedTo |
|
National Securities Markets Improvement Act of 1996
("Securities Exchange Act of 1934")
→
Securities Act Amendments of 1964 ("Securities Exchange Act of 1934") → |
amends |
|
Commerce and Trade
("Securities Exchange Act of 1934 (codified sections)")
→
Title 15 of the United States Code ("Securities Exchange Act of 1934 provisions") → |
contains |
|
Division of Enforcement
("Securities Exchange Act of 1934")
→
Division of Enforcement of the SEC ("Securities Exchange Act of 1934") → |
legalAuthority |
|
Office of Compliance Inspections and Examinations
("Securities Exchange Act of 1934")
→
Regulation T ("Securities Exchange Act of 1934") → |
legalBasis |
|
'34 Act
("Exchange Act")
→
|
abbreviation |
|
Public Law 73-291
("Exchange Act")
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|
alsoKnownAs |
|
Public Law 111-203
("Securities Exchange Act of 1934")
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|
amended |
|
'33 Act
("Securities Exchange Act of 1934")
→
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amendedBy |
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Division of Investment Management
("Securities Exchange Act of 1934")
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appliesLaw |
|
'33 Act
("Securities Exchange Act of 1934")
→
|
distinguishedFrom |
|
73rd United States Congress
("Securities Exchange Act of 1934")
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enacted |
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U.S. Congress
("Securities Exchange Act of 1934")
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|
enactsLaw |
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Securities and Exchange Commission
("Securities Exchange Act of 1934")
→
|
enforces |
|
Securities and Exchange Commission
("Securities Exchange Act of 1934")
→
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foundedByStatute |
|
'34 Act
("Securities Exchange Act of 1934")
→
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fullName |
|
Office of Structured Finance
("Securities Exchange Act of 1934")
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governedBy |
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Great Depression
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hasKeyEvent |
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Public Law 73-291
("Securities Exchange Act of 1934")
→
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hasTitle |
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Wall Street Crash of 1929
("Securities Exchange Act of 1934")
→
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influenced |
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United States federal securities markets
("Securities Exchange Act of 1934")
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legalFramework |
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Rule 10b-5
("Securities Exchange Act of 1934")
→
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partOf |
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NYSE American
("United States federal securities law")
→
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primaryRegulatoryJurisdiction |
|
U.S. Securities Exchange Act of 1934
("Exchange Act")
→
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shortName |
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Public Law 73-291
("Securities Exchange Act of 1934")
→
|
shortTitle |
|
Division of Corporation Finance
("Securities Exchange Act of 1934 reporting requirements")
→
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worksOn |